Financial Performance - Consolidated net sales for the three months ended June 30, 2023, were $7.4 million, a 4% increase compared to $7.1 million for the same period in 2022[100]. - Ranor's net sales decreased by $0.2 million, or 5%, to $4.5 million for the three months ended June 30, 2023, with a backlog of $21.8 million[101]. - Stadco's net sales increased by $0.6 million, or 26%, to $3.0 million for the three months ended June 30, 2023, with a backlog of $24.5 million[102]. - Consolidated gross profit decreased by $0.1 million, or 15%, to $0.7 million for the three months ended June 30, 2023, with a gross margin of 9.4%[103]. - Ranor's gross profit decreased by $0.6 million, or 30%, primarily due to lower revenue and a less favorable project mix[104]. - Stadco's gross profit was negative for the three months ended June 30, 2023, but losses narrowed compared to the same period in 2022[105]. - Operating loss for the three months ended June 30, 2023, was $580,000, slightly higher than the operating loss of $558,000 for the same period in 2022[110]. - Net loss for the three months ended June 30, 2023, was $527,455, or $0.06 per share, compared to a net loss of $501,165, or $0.06 per share for the same period in 2022[117]. - EBITDA for the three months ended June 30, 2023, was negative $19,000, a decrease of $13,000 from negative $6,000 in the same period of 2022[149]. - The Company reported a net loss of $0.5 million for the three months ended June 30, 2023, compared to a net loss of $0.501 million for the same period in 2022[149]. Costs and Expenses - Consolidated cost of sales for the three months ended June 30, 2023, was $6.7 million, a 7% increase compared to $6.3 million for the same period in 2022[103]. - Consolidated SG&A expenses for the three months ended June 30, 2023, decreased by approximately $101,000, or 7%, compared to the same period in 2022[107]. - The Company plans to closely monitor expenses and may reduce operating costs to enhance liquidity due to recurring operating losses at the Stadco subsidiary[121]. - The company is closely monitoring expenses and may reduce operating costs and capital spending to enhance liquidity[164]. Liquidity and Debt - Total available liquidity as of June 30, 2023, was $2.7 million, consisting of $0.3 million in cash and $2.4 million in undrawn capacity under the Revolver Loan[123]. - Cash provided by operating activities for the three months ended June 30, 2023, was approximately $115,000, a significant decrease from $1.4 million in the same period in 2022[128][129]. - Total debt as of June 30, 2023, was $7.6 million, an increase of $1.5 million compared to $6.1 million at March 31, 2023[126]. - As of June 30, 2023, the Company had approximately $2.3 million outstanding under the Revolver Loan, up from $650,000 at March 31, 2023[139]. - The weighted average interest rate on the Revolver Loan at June 30, 2023, was 7.31%[124]. - The Company has a long-term debt obligation totaling $7.6 million, with $2.0 million due as a balloon payment in December 2027[150]. Financial Covenants and Compliance - The Company agreed to maintain a Cash Flow-to-Total Debt Service ratio of not less than 1.20 to 1.00, tested quarterly[142]. - The Company must keep its Balance Sheet Leverage at or below 2.50 to 1.00, with compliance tested quarterly[143]. - The Loan-to-Value Ratio must not exceed 0.75 to 1.00, based on the outstanding balance of the Ranor and Stadco Term Loans[144]. - The Company has identified two material weaknesses in internal control over financial reporting as of March 31, 2023, which persisted as of June 30, 2023[156]. - The Company has committed to a remediation plan to address the identified material weaknesses, including the development of new procedures and policies[158]. - The company believes it is probable that it will breach certain covenants under its loan agreement with Berkshire Bank within the next 12 months, raising substantial doubt about its ability to continue as a going concern[163]. - The company has determined it is in compliance with the financial covenants as of June 30, 2023, but expects potential noncompliance by September 30, 2023[163]. - The consequences of any default or waiver could materially and adversely affect the company's business, financial condition, and results of operations[165]. Operational Strategy - The company relies on individual purchase orders rather than long-term contracts, impacting revenue generation[82]. - The company continues to seek long-term projects with predictable cost structures to enhance revenue stability[88]. - The company plans to increase utilization of manufacturing capacity at its Stadco subsidiary and improve manufacturing processes to meet financial covenants[164]. - If the company fails to comply with the financial covenants, it may seek waivers or forbearances from the lender, which could lead to increased costs and restrictive covenants[164]. - There is no assurance that the company will successfully achieve compliance with the financial covenants through operational changes[164]. - The potential need for additional equity financing could adversely affect stockholder rights and lead to dilution of existing shares[164].

TechPrecision Corporation (NASDAQ:TPCS) Q4 2023 Earnings Conference Call June 15, 2023 4:30 PM ET Company Participants Brett Maas - Hayden IR Alexander Shen - CEO, President & Director Thomas Sammons - CFO Conference Call Participants Kris Tuttle - Blue Caterpillar LLC Mark Gomes - Pipeline Data, LLC Ross Taylor - ARS Investment Partners Richard Greulich - REG Capital Advisors Operator Greetings. Welcome to the TechPrecision Corporation Fourth Quarter Fiscal 2023 Financial Results Conference Call. [Operator ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its char ...

TechPrecision Corp (NASDAQ:TPCS) Q3 2023 Earnings Conference Call February 14, 2023 4:30 PM ET Company Participants Brett Maas - Hayden IR Alexander Shen - CEO, President & Director Thomas Sammons - CFO Conference Call Participants Ross Taylor - ARS Investment Operator Good day, everyone, and welcome to the TechPrecision Corporation Third Quarter Fiscal 2023 Financial Results. [Operator Instructions]. It is now my pleasure to turn the floor over to your host, Brett Maas. Sir, the floor is yours. Brett Maas ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its charter) | Delaware | | 51-0 ...

TechPrecision Corporation (NASDAQ:TPCS) Q2 2023 Earnings Conference Call November 17, 2022 4:30 PM ET Company Participants Brett Maas - Hayden Investor Relations Alexander Shen - Chief Executive Officer Thomas Sammons - Chief Financial Officer Conference Call Participants Ross Taylor - ARS Investment Partners Richard Greulich - REG Capital Advisors Operator Good afternoon, ladies and gentlemen, and welcome to the TechPrecision Corporation Fiscal 2023 Second Quarter Financial Results Conference Call. At this ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-51378 TechPrecision Corporation (Exact name of registrant as specified in its charter) | Delaware | | 51-05398 ...

TechPrecision Corporation (NASDAQ:TPCS) Q1 2023 Earnings Conference Call August 22, 2022 4:30 PM ET Company Participants Brett Maas - Hayden Investor Relations Alex Shen - President & Chief Executive Officer Tom Sammons - Chief Financial Officer Conference Call Participants Ross Taylor - ARS Investment Partners Operator Good day, ladies and gentlemen, and welcome to the TechPrecision Corporation Fiscal 2023 First Quarter Financial Results Conference Call. At this time, all participants have been placed on a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 TechPrecision Corporation (Exact name of registrant as specified in its charter) | Delaware | 51-0539828 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 1 Bella Drive | | | Westminster, MA | 01473 | | (Address of principal executive offices) | (Zip Code) | | Registrant's telephone number, including area code | (978) 874-0591 | | Securitie ...

TechPrecision Corporation (NASDAQ:TPCS) Q4 2022 Earnings Conference Call July 13, 2022 2:30 PM ET Company Participants Brett Maas - Hayden Investor Relations Alex Shen - President & Chief Executive Officer Tom Sammons - Chief Financial Officer Conference Call Participants Ross Taylor - ARS Investment Partners Mark Gomes - Pipeline Richard Greulich - REG Capital Advisors Operator Greetings ladies and gentlemen and welcome to the TechPrecision Corporation Fiscal 2022 Fourth Quarter Financial Results Conferenc ...